The Lithium Battery Revolution is upon Us.
The world’s transition to renewable energy is creating immense demand for the critical elements that make up lithium-ion batteries: cobalt, lithium, and graphite. Cobalt Power Group, has entered the cobalt space aiming to become an industry leader in the exploration and development of North American cobalt assets. We have acquired, and continue to consolidate, a significant land package in the "Cobalt Camp" near Cobalt, Ontario - a prolific mining region known for its robust polymetallic silver-cobalt veins.
In the past, cobalt content extracted in the region was neglected because silver was the primary target. Now, new demand for cobalt is driving a significant and sustainable commodity price upswing. Our plans are to resuscitate the historical mines found on our properties and eventually commence cobalt production. The mined silver, a commodity also showing growth in the past year, becomes a credit.
Prior to Phase One drilling, exploration included surface sampling and an airborne magnetic survey. An Induced Polarization geophysical survey and additional surface sampling followed. The Phase One drilling campaign, which ran from June to mid-July 2017, consisted of drill target identification and a 9-hole surface drilling program around the old shaft area of Smith Cobalt. Our Phase Two 16-hole drilling program is well under way and should be completed by mid-November 2017. Our aims are to advance the Smith Cobalt project by increasing our knowledge of the geological continuity and mineral content, establishing an NI 43-101 compliant resource, converting the resources to reserves, and, eventually, mining the cobalt- and silver-rich veins.
As well, we have formed a strategic alliance with Hochschild Mining, a well-established South American mining house which trades on the London Stock Exchange and has a market capitalization of over $2 billion CDN. Their expertise in steeply-dipping veins and the metallurgical extraction of precious metals will be invaluable for our company.
Our company has assembled a dedicated team of highly qualified geological, technical, and financial personnel with decades of combined hands-on experience. As we move ahead with our vision to become a world-class cobalt mining company and create sustainable value for our stakeholders, I would like to thank the Cobalt Power Group team for their continued efforts, hard work, and dedication.
Dr. Andreas Rompel, President & CEO